Note: The Arcade Clash of Claims Airdrop is Complete:
- +17k eligible wallets
- 6724 SOL/ BTC wallets connected
- 4k new ARCD holders
- 3% total ARCD supply distributed
NFT lending is one of the emerging DeFi use cases in the industry. Basically, borrowers will offer their NFTs as collateral to secure a loan, allowing them to access funds without selling their assets. The NFTs will then be held on a smart contract until the borrower will repay the loan fully.
But not all auctioned NFTs are automatically accepted. Because protocols are just the platforms for lending and not the lenders themselves. The lenders are other crypto users who want to gain profit by lending their tokens. If borrowers put their NFT to the platform, a lender can choose which NFT they think has the best auction price, or the combination of the principal amount and the interest, all in terms of crypto.
Among the most popular Ethereum-based NFT lending protocol is Arcade, which is currently hosting a unique airdrop campaign.
Futhi funda: 24+ Ama-Crypto Airdrops Angase Uwaqaphele ngo-2024
Okuqukethwe
Arcade Introduction
Arcade (https://www.arcade.xyz/) is a DeFi protocol that enables liquid lending markets for NFTs minted on the Ethereum network. It basically serves as a peer-to-peer lending and borrowing platform that supports different kinds of NFTs as collaterals, such as PFP collections, artworks, real world assets, and web3 gaming items.
“Through Arcade, NFT owners maximize asset utility by borrowing against them, while lenders earn yield by providing liquidity,” the team advertised.
One of its key features is allowing users to create a vault, which is a group of NFTs. This means that a borrower can not just offer a single NFT as collateral, but even a package of NFTs.
There are two ways to borrow on the platform:
- Standard Borrowing: List the NFTs or Vaults with set loan terms to receive offers from lenders.
- Instant Borrowing: For immediate liquidity, deposit NFTs into a Vault and accept an open collection offer.
Meanwhile, there are three ways to lend crypto and earn interest:
- Standard Lending: Begin loans by signing borrower-defined terms on NFTs or Vaults.
- Custom Offers: Make specific offers on pre-defined terms on Vaults or individual NFTs.
- Collection Lending: Extend loan offers to entire collections or single NFTs within them.
How to Lend or Borrow on Arcade
To start lending crypto on Arcade:
- Isinyathelo 1: Iya ku https://app.arcade.xyz/lend.
- Step 2: Connect a wallet. Compatible wallets are MetaMask, WalletConnect, and Coinbase Wallet.
- Step 3: Choose the NFTs listed as collateral.
- Step 4: Check the floor price.
- Step 5: Create an offer, including the lend price and duration.
- Step 6: Wait for the borrower to accept the offer.
To start borrowing on Arcade:
- Isinyathelo 1: Iya ku https://app.arcade.xyz/borrow.
- Step 2: Connect a wallet. Compatible wallets are MetaMask, WalletConnect, and Coinbase Wallet.
- Step 3: List the NFT or vault that will be offered as the collateral.
- Step 4: Put a floor price.
- Step 5: Wait for lenders to put an offer.
- Step 6: Accept the best offer.
Clash of Claims: Arcade’s Unique Airdrop Campaign
Recently, Arcade introduced Clash of Claims, its airdrop program that seeks to give rewards to holders of selected collections available on the platform. The campaign is in line with the launch of its native token, $ARCD.
Technically, “Clash of Claims” is a PVP airdrop where 4,000 holders of selected collections enter for a chance to win 750 $ARCD each, until the total allocation of three million tokens has been fully distributed.
The twist is, eligible participants only have two hours to claim their reward, and all the unclaimed rewards will be re-raffled on a competitive first come, first served basis, thus, the term “Clash of Claims.”
The NFT collections that participants may hold to join the airdrop campaign are:
- Pudgy Penguins (ETH)
- Lil Pudgys (ETH)
- Sappy Seals (ETH)
- Mad Lads (SOL)
- Tensorians NFTs (SOL)
- Bitcoin Puppets (BTC)
- NodeMonkes (BTC)
- RSIC (BTC)
Take note that the 4,000 qualified wallets were already chosen on February 19, but the Clash of Claims part will start on February 21.
Lo mbhalo ushicilelwe ku-BitPinas: Arcade Protocol Completes Unique ‘Clash of Claims’ Airdrop
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- Source: https://bitpinas.com/learn-how-to-guides/arcade-protocol-clash-of-claims/
